2013-Morning Session-BRK Annual Shareholders Meeting
Berkshire Hathaway Annual Shareholder Meetings (since 1994)
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The Bandwagon Effect
It is very hard to shrink an insurance operation by 80% when the people who come in every day don't have enough to do. There are pressures on other people that we don't want and therefore don't have. It's like my internet stocks in the late 1990s. You think you're so smart avoiding this when everybody else is doing it and they're making a lot of money.
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